Bishopsgate Scotland Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC248442 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Bishopsgate Scotland Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment property

4

1,039,769

1,039,769

CURRENT ASSETS

Debtors

5

100,000

-

Cash at bank

322,640

460,581

422,640

460,581

CREDITORS

Amounts falling due within one year

6

(20,603

)

(56,760

)

NET CURRENT ASSETS

402,037

403,821

TOTAL ASSETS LESS CURRENT LIABILITIES

1,441,806

1,443,590

CREDITORS

Amounts falling due after more than one year

7

(815,052

)

(846,226

)

NET ASSETS

626,754

597,364

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

626,654

597,264

SHAREHOLDERS' FUNDS

626,754

597,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:

Mr J R Ness - Director

Mr A R Ness - Director

1.	STATUTORY INFORMATION

Bishopsgate Scotland Limited is a private company, limited by shares, domiciled in Scotland, registration number SC248442. The registered office is Unit 5, Gateway Business Park, Beancross Road, Grangemouth, FK3 8WX

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The income shown in the profit and loss account represents rental income invoiced in the year in relation to investment properties held as fixed assets. Income is recognised when the agreed rental periods have expired.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

1,039,769

NET BOOK VALUE

At 31 March 2023

1,039,769

At 31 March 2022

1,039,769

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

100,000

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

9,167

8,333

Trade creditors

-

280

Taxation and social security

9,352

48,147

Other creditors

2,084

-

20,603

56,760

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

23,334

33,333

Amounts owed to related parties

735,553

576,750

Amounts owed to associates

-

113,778

Other creditors

56,165

122,365

815,052

846,226